The Board approved a reallocation of the target allocations in the Stable Value Option at the fourth quarter board meeting to enhance liquidity which was requested by the Insurance Companies providing wrap contracts to the Option. This could be achieved by increasing assets within a short-term laddered bond portfolio that would be wrapped while reducing exposure to longer-term bonds. Invesco and the DAP CIO proposed an alternate option of achieving the enhanced liquidity to the board at the fourth quarter board meeting. This option was to increase the CD portion of the Stable Value Option due to CDs having the same characteristics of a short-term laddered bond portfolio but at a higher yield. INVESCO, after discussions with the wrap contract providers, determined this proposed alternative would meet the requirements of the wrap providers.
| Manager | Previous Target Allocation | New Target Allocation |
| Wellington Core | 40% | 0% |
| INVESCO Interest Income | 46% | 0% |
| New Invesco Managed Account | 0% | 80% |
| CACU CDs | 4% | 10% |
| BlackRock MM | 10% | 10% |